In an article for the website realestate.com.au, Paul Thornhill talks about a great start to the property market in 2014 but also asks us to be wary of the figures, for they may flatter to deceive. Thornhill gives a few reasons why the summer figures are too good to be true.
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Hike In Dwelling Approvals Is Welcome News
Consider Michael Yardney an optimist when it comes to predicting about the property market in the year 2014. In an article for the Property Update, Yardney takes us through the welcome hike in dwelling approvals.
The private sector has recorded an 18% increase in approvals and it just goes to prove that the government’s move to infuse life into the construction industry through reduced cash rate seems to be working.
New home sales have shot up by 7.5% during November 2013. This includes a rise of nearly 30% for multi-units and 3.6% for detached houses. September-November exhibits a hike in new home sales for all 5 surveyed states.
You can read the original article here.
How do you see first home buyers performing in Q1 of 2014?
Avoid These Traps Of the Property Market
In an article for the Property Update, Michael Yardney, one of the top property strategists in Australia today, talks about the major financial traps for property market investors. Along with James Hooper (Accountant), Greville Pabst (Valuer), and Carolyn Majda (Insurer), Yardney chalks out a list of such traps at the behest of friend Karina Barrymore (financial journalist and the author of “The Power of Property”).
2014 Can Be a Great Year For the Property Market
Pete Wargent was more ebullient than many of his peers on Sydney’s property market scene and boy! Was he proved right?
For the year 2014, he feels the same sense of ebullience. The good news, Wargent believes, is that none of the analysts have so far come up with dismal predictions and there is a consensus that the year ‘2014’ will be positive for the property market. He gives “7 reasons to be positive about 2014” in his article on the Property Update.
Housing Demand Likely To Come Down To Sustainable Levels
The price of detached houses in Sydney rose by 15.2 % whereas unit prices spiked by 11.6 % in the year 2013. This, however, does not deter analysts from believing that the kind of mini boom that Sydney has witnessed lately might fritter out from here on. An article on the website news.com.au discusses the situation.
Analysts feel that pent-up demand due to low supply had pushed housing demand so high. Moreover, the hike was not that high in ‘real’ terms because it succeeded a few cycles of fall. There is a widespread belief amongst people in the know that growth will be pretty modest in the year 2014 and will most likely close in on 5-6% instead of the really ‘unsustainable’ 12-14%
You can read the original article here.
Do you see unit growth outpacing growth of detached houses frequently from here on?
Paper Currency Is A Myth We Respond To
When money speaks we aren’t concerned with its grammar. Great! Some say that while money may fail to buy happiness it can certainly buy off unhappiness. I find these assertions funny but quite on target- Really? Reallllllly! Pete Wargent in an article for the Property Update talks about how money makes the world go round.
